Nokia profits slump with huge falls in North American division

Profits at Nokia have fallen by 10% year on year to €439m but the partnership deal with Microsoft has finally been signed after 10 weeks of negotiations.

Nokia's Stephen Elop and Microsoft's Steve Ballmer

Sales rose by 9% year on year to €10.4bn but slumped by 18% compared to the last quarter of 2010. Devices and services fell 17% to €7.12bn compared to the final quarter of 2010, but rose 6% compared to the same period last year.
In its forecast, Nokia expects sales to fall further in the second quarter of 2011, to between €6.1bn and €6.6bn.

However, the deal with Microsoft, announced in the winter, has now finally been signed with new handsets with Microsoft operating systems available in late 2011 or early 2012.